InTrack Investment Management Inc Has $1.36 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

InTrack Investment Management Inc lifted its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 132.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,893 shares of the company's stock after acquiring an additional 11,323 shares during the quarter. InTrack Investment Management Inc's holdings in Carrier Global were worth $1,361,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CARR. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global in the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of Carrier Global in the third quarter valued at $37,000. Country Trust Bank acquired a new stake in shares of Carrier Global in the third quarter worth $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carrier Global during the third quarter valued at $44,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CARR has been the subject of several research reports. Robert W. Baird decreased their price target on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Citigroup dropped their price target on shares of Carrier Global from $94.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company reduced their price objective on Carrier Global from $80.00 to $75.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday, December 12th. They issued a "buy" rating and a $96.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $83.93.

Carrier Global Price Performance

Shares of NYSE CARR remained flat at $69.74 during mid-day trading on Friday. 4,601,408 shares of the company traded hands, compared to its average volume of 4,039,499. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The company has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 2.03 and a beta of 1.36. The firm's 50 day moving average price is $71.96 and its 200-day moving average price is $72.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global announced that its board has authorized a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, December 20th. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. Carrier Global's payout ratio is 22.78%.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.